Invest in Maldives

a guide for foreign investors

CTL Strategies recognised in 2021 Rankings of Chambers and Partners

CTL Strategies LLP has been ranked in the 2021 edition of Chambers and Partners.

Chambers and Partners, often regarded as the “gold standard” in the legal profession, is an independent research company operating across 200 jurisdictions. Chambers deliver rankings and insight into the world’s leading lawyers and law firms. The rankings are based on in-depth interviews with lawyers, in-house counsel of clients and independent experts.

The Guide remarks that the “firm has a significant focus on tax matters and earns considerable market respect in this regard. Its experience includes tax litigation and corporate services. It is heralded by sources as “up-and-coming”.

Recent Updates

Overview of the 4th Amendment to the Tax Administration Regulation

Among other changes, the Fourth Amendment to the Tax Administration Regulation (the “Amendment”) outlines the Maldives Inland Revenue Authority’s (“MIRA”) audit procedure and introduces additional factors in relation to tax assessments and filing objections with the MIRA. The Amendment also elaborates on the procedures to be followed with respect to recovery of non-tax revenues, the Mutual Administrative Procedure (“MAP”), Automatic Exchange of Information (“AEOI”) and the Common Reporting Standard (“CRS”).

This Overview provides a summary of the following key areas of the Amendment, which may have an impact on taxpayers:

  • Record maintenance
  • Auditing and MIRA’s assessment
  • Objection
  • Recovery of non-tax revenue
  • Mutual Agreement Procedure
  • Common Reporting Standard

Guide on collection and distribution of service charge

This guide explains the rules regarding the collection, distribution and reporting of Service Charge as required by the Sixth Amendment to the Employment Act. The collection, distribution and reporting requirements of Service Charge were subsequently detailed in the Regulation on Collection of Service Charge issued by the Labour Relations Authority on 16 March 2021.

The guide will also provide you with clarification on some of the critical matters in relation to calculation of Service Charge and provide you with examples of application that will help simplify the rules.



Service Charge


Chaotic Non-resident Contractor Tax Rules


10th Amendment to the Tourism Act